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LENDING & CREDIT | Cesar Tordesillas, Vietnam

TrustBank extends soft loans to exporters

TrustBank is offering incentives for small and medium-sized enterprises to serve purchase and processing of products for exports, agriculture, seafood that commit to use the bank's international payment service, reports
Vietnam Daily News


This programme, which will last until December 31, 2011, has two supporting forms namely minimum commercial preferential interest rate of from 17.6 percent per year in dong and 5 percent in US dollar and 50 percent incentives for international settlement service fee.

At the meeting between the State Bank of Vietnam  and 12 large commercial banks on October 4, the central bank's governor, Nguyen Van Binh, said that after implementing the key tasks for remaining months of this year, so far, production credit posted high increase, of which, credit for agriculture, rural area and export saw the highest rise of 30 percent.

As reported by the central bank, the lending interest rate in dong for production and business is currently commonly at 18-21 percent per year, 6-7.5 percent per annum in US dollar for short terms and 7.5-8 percent p.a. for medium and long-terms.

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